Author: The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Futuregrowth Asset Management, South Africa’s biggest specialist fixed-income money manager, said it didn’t tell Transnet SOC Ltd. to remove Chief Executive Officer Siyabonga Gama after the state-owned rail and ports operator said auditors couldn’t give its 2018 financial results a clean bill of health. “The Futuregrowth team has had continuing engagements as a lender to Transnet over many months,” Chief Investment Officer Andrew Canter said in an emailed statement late Monday. “Those discussions…

JOHANNESBURG (Capital Markets in Africa) – Sterling slumped more than 4 percent in the past three months, spurring a slew of forecast cuts by analysts amid rising risks that the U.K. will tumble out of the European Union without an economic deal. Still, pound bulls are keeping the faith, with Investec Bank Plc estimating that the two sides will reach an agreement by year-end, while ECU Group Plc sees long-term value in the currency. The pound is…

KAMPALA (Capital Markets in Africa) – MTN Group Ltd. is facing pressure to list its unit in Uganda as Africa’s largest mobile-phone company seeks to renew a license in the country. While selling shares on the local bourse isn’t a pre-condition for the granting of a new 10-year contract, the East African nation wants “Ugandans to be part of the company,” according to Godfrey Mutabazi, the executive director of the country’s telecommunications regulator. MTN’s current license expires…